(a) The owner of all private streets within Reminderville's Planned Development District shall post with the Fiscal Officer, a cash performance bond in the amount of twenty-five thousand dollars ($25,000) to assure the
City
that private streets within the City's Planned Development District will be in a condition acceptable to the
City
Engineer at the time that the owner of such private streets has completed development within the Planned Development District. The condition of this bond shall be that if any portion of the roadway or a private street within Reminderville's Planned Development District is in a condition of repair unacceptable to the
City
Engineer, applying sound highway construction principles, then the surety liable on such bond shall pay over to the
City
, the amount of money necessary in order to put such private streets in proper repair as determined by the
City
Engineer.
(b) (1) A "private street" as used herein means any street or highway, the roadway of which is designed for division into two or more lanes for vehicular traffic, but which has not been dedicated for public use.
(2) "Roadway." means that portion of a private street, improved, designed or ordinarily used for vehicular traffic except the berm or shoulder.
(Ord. 20-2004. Passed 10-26-04.)